December 8, 2009 - Virtual Health Technologies, Inc. (OTC Bulletin Board: VHGI) announced today that an 8K has been filed detailing contracted analysis of historical reserves at the Treasure Gulch Gold Mine held under Lease-Purchase Option by VHGI Gold, a wholly owned subsidiary of VHGI. The filing contains an update of the original report entitled "THE TREASURE GULCH AND ZERO MINES", originally prepared for Western Sierra Mining by Gold River Exploration. In addition to this updated analysis, Western Sierra Mining prepared pro forma financial projections relative to VHGI's operation of the Mine assuming the construction of a full scale processing facility onsite.
Estimated Value of Reserves and Pro-forma Financials
"At $1200/ oz Au, the report details that total reserves calculate to a gross recoverable value of 45,827 oz of Gold, or $54,992,400.00. Assuming a recovery rate of 92% (typical for a hard rock recovery operation) the extractable value would be $50,593,008. Furthermore, the report estimates an estimate of $100 per ton of processed ore, or approximately $200/ ounce Au," stated Jim Renfro, President of VHGI. "Additionally, we are evaluating pro-forma financials for 12 month revenue and income from the construction of a hard rock processing facility for the Treasure Gulch Gold Mine. We are pleased with this initial analysis of the data, and will release further details pending valuation by our staff." For further information please access the complete following on either the SEC website or http://www.vhgigold.com."
Upcoming Analyst Report and other Coverage
Additionally, VHGI has confirmed that they have retained a well renowned analyst with a following in both gold and technology companies to analyze the data and profile VHGI. The anticipated analyst report will be released via PR Newswire and other media outlets as soon as it has been completed.
Potential Asset Sale Clarification
Additionally, VHGI confirmed that the material has been passed on to a well renowned analyst with a following in both gold and technology companies that the company has retained to analyze the data and profile VHGI. The analyst report is anticipated to be released within the next few days via PR Newswire and other media outlets as soon as it has been completed. In addition to the analyst report, the company has contracted with http://www.Standoutstocks.com to profile VHGI. The company will also issue alerts via Twitter at http://www.twitter.com/vhgigold, and press releases will be featured on the main page of http://www.kitco.com, one of the most highly trafficked portals for Gold and Precious Metals News and online Bullion Product sales and purchases.
More Information
Investors are invited to obtain information concerning our operations at http://www.virtualhealthtechnologies.com or http://www.vhgigold.com or by calling shareholder relations at 859-514-6982.
About VHGI and VHGI Gold
VHGI is a diverse company with assets and interests focusing on opportunities within the Healthcare Technology Industry and Precious Metals / Energy Resources Markets. VHGI Gold, a wholly owned subsidiary of VHGI has recently initiated steps to leverage the company's operating history and corporate resources within the Gold Mining, Precious Metals and Energy Resources Markets. Although Gold is selling at 25 year high prices and Oil & Gas continue to be trading at significant premiums, global economic events have created significant opportunities within these markets. VHGI intends to pursue these opportunities through Lease-Purchase opportunities, Acquisitions and Joint Ventures for the goal of enhanced shareholder value.
Virtual Health Technologies, Inc. cautions investors that none of the information concerning the valuations of mineral deposits or other data reported above have been verified by outside geologists or other verifiable sources.
"Safe Harbor" Statement
VHGI cautions investors that none of the information concerning the valuations of mineral deposits or other data reported above has been verified by outside geologists or other verifiable sources beyond representations made to VHGI which ultimately came from the owner of the subject property and their associates. The United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this website, such as "reserves," "resources," "geologic resources," "proven," "probable," "measured," "indicated," and "inferred," that the SEC guidelines strictly prohibit us from including in our filings with the SEC.
Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks and uncertainties detailed in the Company's SEC filings. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.
For Further Information:
Shareholder Relations - Communications: 859-514-6982
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